Xos Q1 Revenue Doubles to $11.2M, Margin Climbs to 38.6%
Xos Inc reported Q1 revenue of $11.2 million, up from $5.9 million, with record gross margin of 38.6% and 95 units delivered. Operating loss narrowed to $4.7 million—the lowest since its IPO—free cash flow loss improved to $1.6 million, and 2026 revenue guidance is $40–50 million.
1. Q1 Financial Highlights
Xos Inc delivered revenue of $11.2 million in Q1 2026, up from $5.9 million a year earlier, and shipped 95 units versus 29 last year; gross margin surged to a record 38.6%.
2. Operational Efficiency Improvements
Operating expenses declined to $9 million and operating loss narrowed to $4.7 million—the lowest since IPO—while free cash flow loss improved to $1.6 million and inventory fell to $23.7 million with $9.8 million cash on hand.
3. Outlook and Guidance
The company forecast full-year 2026 revenue of $40 million to $50 million, plans to expand production of high-margin hubs and powertrains, and is monitoring regulatory shifts and pipeline visibility for the second half.